Recent Development
The Law on the Amendments to the Code of Enforcement and Bankruptcy and Certain Laws ("Law No. 7101") was published on the Official Gazette on March 15, 2018.
Background
As a result of the studies conducted by the Coordination Council for the Improvement of the Investment Environment, the Law No. 7101 was introduced to the Turkish Parliament.
Introduction
Russia's bankruptcy law (the Law) has been amended to expand the list of persons who may be held vicariously liable for a bankrupt's debts and clarify the grounds for such liability.1
Definition of controlling person clarified
Boart Longyear – the recent appeal decision
The insolvent trading "safe harbour" and "ipso facto" clause reform
The key points
Last week, the federal government circulated an exposure draft of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill (the Bill). The Bill is intended to promote entrepreneurship and innovation among directors of companies facing insolvency - this is to be achieved through two fundamental changes to existing insolvency laws.
The consideration of the issues relating to TOPOIL begins in one of the three breakout sessions. This one considers whether some sort of restructuring process is appropriate and if so which might be the top options and their relative merits.
The People’s Republic of China (“PRC“) recently launched two initiatives in relation to enterprise bankruptcies. These initiatives will provide significant benefits to both applicants and creditors when they seek to exercise their respective rights during the enterprise bankruptcy process.
Dispute Resolution Beijing/Hong Kong/Shanghai Client Alert Hong Kong Court Paves a Clear Path for the Recognition and Assistance of Foreign Liquidators Recent developments The recent decision of the Hong Kong court in Re Rennie Produce (Aust) Pty Ltd (In Liquidation in Australia) (HCMP 1640/2016, 26 August 2016), together with the prior decision in Re Joint Official Liquidators of Centaur Litigation SPC (In Liquidation) (HCMP 3389/2015, 3391/2015 and 3393/2015, 10 March 2016) have confirmed the court’s willingness to accede to letters of request issued by foreign courts for the recognition
OVERVIEW OF AUSTRALIAN CORPORATE INSOLVENCY REGIMES
Restructuring & Insolvency
Restructuring & Insolvency | i
Overview of Australian Corporate Insolvency Regimes
This document provides a summary of the most common Australian formal corporate insolvency regimes, namely:
voluntary administration;
receivership; and winding up.
It also covers creditors' schemes of arrangement which are increasingly being used in larger restructurings.
The Queensland Court of Appeal has unanimously allowed an appeal by the liquidators of Linc Energy Limited (Linc Energy), holding it was possible to use a disclaimer notice to avoid the consequences of an environmental protection order (EPO) issued under the Environmental Protection Act 1994 (Qld) (EPA).